How’s the greenback faring in opposition to the yen?
Let’s check out USD/JPY’s chart forward of a light-weight buying and selling session.
Earlier than transferring on, ICYMI, yesterday’s watchlist checked out AUD/CHF’s vary help amidst risk-off flows within the markets. Make sure to take a look at if it’s nonetheless a legitimate play!
And now for the headlines that rocked the markets within the final buying and selling periods:
Contemporary Market Headlines & Financial Knowledge:
U.S. producer value will increase decelerate from 1.6% to 0.5% in March
U.S. preliminary jobless claims up by 203K – the very best degree since February – vs. 190K anticipated
USD/CHF hit parity for the primary time since December 2019
Jerome Powell confirmed for a second time period as Fed Chair
Yellen: Fed can deliver down inflation with out inflicting a recession
Yellen cites Terra meltdown in name for brand new crypto laws
OPEC cuts 2022 world oil demand forecast once more on Ukraine battle
Powell says he can’t assure a “smooth touchdown” because the Fed seems to be to combat inflation
BusinessNZ: Manufacturing PMI slips from 53.8 to 51.2 in March
China to “strictly restrict” pointless abroad travels by Chinese language residents to fight COVID
Asian shares trim losses forward of the weekend
Eurozone industrial manufacturing at 9:00 am GMT
Preliminary UoM shopper sentiment at 2:00 pm GMT
FOMC member Loretta Mester to speak financial coverage at an internet ECB occasion at 4:00 pm GMT
Use our new Foreign money Warmth Map to shortly see a visible overview of the foreign exchange market’s value motion! 🔥 🗺️
What to Watch: USD/JPY
USD/JPY 1-hour Foreign exchange Chart
USD/JPY is persistently buying and selling beneath the 200 SMA, yo. That hasn’t occurred on the 1-hour chart since early March 2022!
If you happen to’re like me and also you assume, “Hmm. Potential reversal?” you then’ll need to maintain your eyes on the 128.75 degree that strains up with a earlier help and 38.2% Fibonacci retracement of this week’s downswing.
I’m not seeing a whole lot of top-tier reviews scheduled at the moment, so it’s possible that greenback demand and threat sentiment will dictate USD/JPY’s value motion for one more day.
Watch how USD/JPY reacts to the 128.75 zone. A rejection on the degree will help a short-term reversal.
The pair might dip again to its lows close to 127.50 and even make new month-to-month lows. Hey, it’s not Friday the thirteenth for nothing!
If threat urge for food or profit-taking from this week’s bearish trades turns into the secret in the course of the U.S. session, you then also needs to be prepared for a potential journey to the 1-hour chart’s 100 and 200 SMAs.
